Replies to post #114422 on BioAmber Inc fka BIOAQ

[trader59]

The court records document a liquidation of the assets, including the plant and patents, for $4.34M that closed in October of 2018, 2 1/2 years ago. Why would the 2 federal courts, the monitor, the creditors owed 10's of millions, the buyer, all say that if it wasn't the truth?

[Brucebannerr]

Fact LCY bought the name for pennies on the dollar . Seems some find it hard to comprehend.
As previously reported to the Court in our role as Monitor, the tangible assets of the Companies were sold. There were insufficient proceeds from those sales to satisfy the claims of secured and unsecured creditors in full. The Monitor has distributed the funds in its hands from the liquidation of the Companies' assets to the secured creditors of the Companies as directed by the Court.

There was no plan of compromise or arrangement made in the CCAA Proceedings in respect of the Companies to otherwise address creditor claims. As such those claims remain outstanding and rank in priority to equity claims.

[Lucky77Dice]

Yep....$ 4.3M upfront...very small deposit indeed...